The Board is committed to the highest standards of corporate governance, from working with management with transparency and integrity, to supporting delivery of Kingfisher’s strategy for the benefit of the Company, our shareholders, and wider society.
Our structured framework, comprising of the Board and its Committees, enables the Company and our directors to work effectively. This inlcudes the Board of Directors, the Board's Audit, Nomination, Remuneration and Responsible Business committees, and the Group Executive. We also have a policy on Board Inclusion and Diversity to assist the Board, through the work of the Nomination Committee, in creating and maintaining optimum Board and Committee composition.
Further detail can be found here. Our governance structure can be found on page 62 of the Annual Report 2022/23.
Corporate Governance Statement
Our Corporate Governance Statement, available here, provides a detailed account of how the Company has applied all the principles and complied with the provisions of the UK Corporate Governance Code during the year ended 31 January 2023, and supplements the information provided in the Annual Report 2022/23. This includes further detail on the activities of the Board and its Committees, and the Company’s approach to risk management and internal control and stakeholder engagement.
Directors’ Duties and Section 172
Considering our impact on our stakeholders is something the Board and the Company spends time on wherever appropriate. The Board fully recognises the importance of all our stakeholders in the successful operation of the business. Remaining mindful of our Companies Act 2006 (the ‘Act’) section 172 (1) responsibilities and the needs and concerns of our stakeholders is an intrinsic part of our decision-making processes. The Company’s section 172(1) Statement is set out on page 16 of the Annual Report 2022/23. Pages 17 to 22 set out further consideration of each of our key stakeholders and examples of how they have been engaged during the year.
Section 172 statements for the Group’s subsidiaries captured by The Companies (Miscellaneous Reporting) Regulations 2018 Regulations can be found here.
More information on the Company's auditor, Deloitte LLP is available in the Audit Committee's report in the Annual Report 2022/23.
The Company's policy on the use of the external auditor for non-audit work can be found here.